Friday, December 8, 2023

Bank Bipartite : MOU signed with 17 % increase

IBA and Bank Unions agreed on 12th Bipartite agreement and signed MOU. As per the MOU signed, bank employees will be getting  17% increase in salary.

"The final agreement is expected to be signed within two months, although the cut-off period is 180 days," said Rupam Roy, the General Secretary of All India Bank Officers’ Confederation (AIBOC)."

"The new pay scales will be constructed after merging Dearness Allowance corresponding to 8088 points (average Index point as applicable for the Quarter of July, August, and September 2021) to the basic pay as of 31.10.2022, and adding thereon a loading of 3 percent, amounting to Rs 1795 crore," the MOU added.

On additional loading of 3 percent after the merger of DA, Roy said that it would lead to improvement in pension for all pensioners from 1986 including retirees under the proposed 12th bipartite settlement.

It is also informed that IBA agreed on 5 days' week and the proposal will be sent for Govt. nod.

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